Arizona: Henry Paulson

Posted by AzBlueMeanie:

I have written in this space before that I consider the giant Wall Street investment banks that nearly destroyed our economy to be nothing more than Ponzi schemes, a Casino Royale for unregulated speculative investments of no hard asset value, fueled by the greed of unscrupulous investors. To paraphrase Don Henley from a New York Minute, if I were in charge, "somebody's going to emergency, somebody's going to jail."

Much has been made of the Bernard Madoff and Robert Stanford investigations into their Ponzi schemes. But these guys were small fish compared to what the giant Wall Street investment banks did, and are still doing today using taxpayer TARP money.

Posted by AzBlueMeanie:

Keith Olbermann delivers an excellent summary of how Wall Street bankers corrupted the financial regulatory scheme put in place by FDR after the last time Wall Street bankers destroyed our economic system with their unbridled greed. With the help of Republicans and Democrats alike in the White House and Congress, these wanker bankers have managed to break our economic system once again with their unbridled greed.

The political players are all familiar: former Federal Reserve Chairman Alan "the maestro" Greenspan, current Federal Reserve Chairman Henry Paulson, Clinton Treasury Secretaries Robert Rubin (now with bailed out Citi Bank) and Lawrence Summers (now head of the National Economic Council for the Obama administration), Sen.

U.S. Rep. John Shadegg (R-Phoenix) and Bob Lord, his Democratic challenger in the 3rd Congressional District, have found common ground in their support of the bailout package that passed the U.S. House Friday and was quickly signed into law by Pres. Bush.

[img_assist|nid=2363|title=U.S. Rep. John Shadegg|desc=|link=none|align=left|width=175|height=214]Ahead of today’s House vote on the $700 billion bailout package, U.S. Rep. John Shadegg is calling for the resignation of Treasury Secretary Henry Paulson.